- The Higher Education Department of the Ministry of Human Resource Development has finalized and released a five-year vision plan named Education Quality Upgradation and Inclusion Programme (EQUIP)
- Key Focus of the EQUIP includes a) to improve access to higher education, especially for underserved communities; b) improve the gross enrolment ration; c) improve teaching and learning processes; d) build educational infrastructure; e) improve the quality of research and innovation; f) use technology and online learning tools; and g) work on accreditation systems, governance structures and financing.
- It would be funded through extra-budgetary resources and by mobilising money from the marketplace through the Higher Education Financing Agency (HEFA).
- HEFA is a joint venture between the HRD Ministry and Canara Bank, set up as an SPV in 2017, with an aim to raise ₹1 lakh crore to finance infrastructure improvements in higher education by 2022
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